8.—13

8

RURAL ADVANCES BRANCH. Statement of Liabilities and Assets as at 31st March, 1929. Liabilities. £ s. d. Assets. £ s. d. Bonds issued .. .. .. .. 1,591,850 0 0 Investment Account —Principal owing by mortTemporary advances from Settlers Branch .. 301,000 0 0 gagors .. .. .. .. 1,875,285 19 5 Advances Suspense Account .. .. 15,550 0 0 Temporary investments .. .. .. 2,835 0 0 Fire Loss Suspense Account .. .. 1,400 0 0 Interest on mortgages — £ s. d. Income-tax Suspense Account .. .. 1,414 1 6 Overdue .. .. 7,569 5 2 Interest on loans accrued but not due .. 3,479 5 5 Accrued .. .. 24,594 10 0 Profit and Loss Account .. .. .. 1,643 14 4 —-— 32,163 15 2 Sundry debtors .. .. .. .. 3 3 3 Loan Charges Account .. .. .. 90,407 7 10 Cash in hand and in bank at 31st March, 1929 5,641 15 7 £2,006,337 I 3 £2,006,337 1 3 Profit and Loss Account for the Year ended 31st March, 1929. Dr. £ s. d. | Cr. £ s. d. To Management Expenses Account .. .. 971 18 51 By Interest Account—Gross profits .. .. 8,981 11 5 Balance—Net profits for the year .. .. 8,009 13 0 £8,981 11 5 j £8,981 II 5 £ s. d. £ s. d. To Loan flotation charges written down .. .. 5,022 12 7 By Balance as at 31st March, 1928 .. .. 86 10 5 Income-tax .. .. .. .. 1,429 16 6 Not profits for the year .. .. .. 8,009 13 0 Balance —Net profits carried forward.. .. 1,643 14 4 £8,096 3 5 | £8,096 3 5 Interest Account for the Year ended 31 st March, 1929. Dr. £ s. d. £ s. d. Or. £ s. d. £ s. d. To Interest on bonds .. .. 41,213 11 0 • By Interest on mortgages .. 55,562 7 1 Less accrued at 31st March, Less overdue and accrued at 1928 .. .. .. 564 18 3 31st March, 1928 .. 11,312 2 2 40,648 12 9 44,250 4 11 Interest on bonds accrued but not due .. 3,479 5 5 Interest on temporary investments .. .. 359 10 11 Interest on amounts temporarily transferred Interest on bank balances .. .. . . 84 10 0 from Settlers Branch .. .. .. 23,750 14 2 Interest on outstanding payments .. .. 2 2 9 Balance —Gross profits transferred to Profit and Interest on mortgages — £ s. d. Loss Account .. .. .. .. 8,981 11 5 Overdue at 31st March, 1929 7,569 5 2 Accrued but not due at 31st March, 1929 . . .. 24,594 10 0 32,163 15 2 £76,860 3 9 £76,860 3 9 Management Expenses Account for the Year ended 31st March, 1929. Dr. £ s. d. Cr. £ s . d. To Audit Office services .. .. . . 25 0 0 By Sundry fees .. .. . . . . 10 0 Cleaning, lighting, heating, and messenger services 20 0 0 Balance transferred to Profit and Loss Account . . 971 18 5 Postages and telegrams .. .. . . 36 8 5 Post Office services . . .. . . . . 25 0 0 Printing and stationery . . . . . . 130 0 0 Rent .. . . . . .. 25 0 0 Salaries .. .. .. .. . . 620 0 0 Travelling-expenses .. .. .. . . 91 10 0 £972 18 5 £972 18 5 - I Wm. Waddel, Superintendent. State Advances Office, Wellington, 29th June, 1929. R. Robertson, Accountant. I hereby certify that the Balance-sheet and accompanying accounts have been duly examined and compared with the books and documents submitted for audit, and correctly state the position as disclosed thereby.— G-. F. C. Campbell, Controller and Auditor-General.